Bitcoin has had an absolutely epic, face ripper rally over the last year and it may be time a look for a pullback in price as buying opportunities present themselves.
Today I have been considering the BITI Short BTC ETF which could give us an amazing hedge if BTC sees a sharp decline. Now I do believe we reached a maximum pump at $50k, and I dont quite see the...
Stocks like Coin, Mara, MSTR all got s=demolished this week on the back of BTC having a 11% pullback from highs.
Bitcoin is forming a weekly reversal candle that is extremely bearish.
This candle could indicate a near term top in the crypto market.
If we get a weekly hammer reversal expect a 50% retrace on the bearish candle, this means some crypto stocks...
I've shared many "hopium" charts for crypto bears, about bearish turnaround around the summer. Some time ago I've said Bitcoin short ETF chart is dead. It cannot always be dead :D
So I say, regardless of the price, wait for the summer if you are a bear. Then you'll probably be fine shorting anything crypto related. Short corn, short outperformers, short miners......
BITI opened for trading on Tuesday 6/21. Since then, Bitcoin has gone down and therefore conversely BITI went up. BITI (short CME Bitcoin futures ETF) is obviously the opposite of BITO (long CME Bitcoin futures ETF).
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn...
after all the losses, drama and liquidation today, biti looks well lol. at least somebody made money. perfect timing for this chart to reverse right at the trendline on biti when the ftx drama comes to light
This inverse ETF allows you to short bitcoin. Bitcoin is breaking down from weekly pennant.
You don't need to know what's going to happen next to make money ~Mark Douglas
Lose like a pro and keep trading, or lose like a novice and quit ~Mark Ritchie
